The wages of house painters will tend to rise when...
What will be an ideal response?
the alternative earning opportunities of house painters improve
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Which of the following is a valid shortcoming of the use of foreign aid to eradicate poverty?
A) It may not lead to a sizeable increase in physical capital in poorer countries. B) It is difficult to transfer aid to poor countries. C) It can lead to polarization of the world economy. D) It mostly leads to the transfer of resources among rich countries.
Air pollution is an external cost because it
A) is a pollution of the external environment. B) is a cost not borne by the producer of the good. C) benefits no one. D) is not associated with resource use. E) is created only when production occurs.
Under rate-of-return regulation, natural monopolies must use
A) marginal cost pricing. B) average cost pricing. C) efficient pricing. D) monopoly pricing.
Australia has one of the most heavily subsidized agricultural sectors as a percentage of domestic GDP
Indicate whether the statement is true or false